IT'S a fashion chain favoured by glamorous Hollywood stars such as High School Musical star Vanessa Hudgens and Grey's Anatomy actress Katherine Heigl.
Now Urban Outfitters is set to boost the Capital's beleaguered retail sector after it confirmed it will open a store on Princes Street.
The store will be only the company's second in Scotland, alongside the Buchanan Street store in Glasgow. It wil
l be the first major new retailer to open a store on the historic street this year.
The company is to move into the iconic former Virgin Megastore branch at 124 Princes Street.
The unit has been lying empty since Zavvi, formed from a management buy-out of the Virgin Megastore brand, closed down nine months ago.
It comes days after Deramore Property Group won consent to develop the building next door to the store into a £40 million hotel and retail scheme.
The Northern Irish developer said today that it expected its project to turn the decaying buildings at 121-123 Princes Street into a major hotel and retail site to get under way later this year. It will feature a New Look store and a Premier Inn hotel.
Councillor Tom Buchanan, the city's economic development leader, said: "These two announcements clearly indicate that there is still strong market interest in Princes Street. They are good news for Princes Street and Edinburgh.
"The Deramore development shows confidence in the idea of the string of pearls concept and also helps our ambition of creating mixed use development on Princes Street."
Romanes & Paterson recently reopened its store at 62 Princes Street, which had been closed since a major fire in August 2007, and budget retailer Primark is expected to open its first city store in the former Marks & Spencer outlet, before Christmas.
Urban Outfitters is to lease the store, which spans three levels and amounts to 15,588 square feet of retail space, from owner F&C Commercial Property Holdings.
The chain, targeted at the 18-30 age group, features designer clothing and quirky home items.
Stuart Moncur, who represented F&C, said: "Urban Outfitters is a fantastic addition to Princes Street and will play a significant role in rejuvenating this great retailing destination."
Deramore was given planning consent after insisting it would pull the plug if it was forced to pay a £500,000 "tram tax".
The scheme will mark the first site that is developed in line with the city council's "string of pearls" vision for the long-term regeneration of Princes Street.
Darren Lonergan, managing director at Deramore, said: "We want to make the most of this excellent location at all levels. The New Look flagship store will link seamlessly into the vibrant shopping scene established on Princes Street and the hotel above will make an excellent addition of quality accommodation to Edinburgh."
What shops would you like to see on Princes Street?Callum Winter, 21, marketing student, Canonmills: "Subway – you can never have too many Subways. Maybe some discount clothes shops."
Sandra Deans, 59, housewife, Oxgangs: "More of a variety – a newsagent like WHSmith, not just a book shop.
Paul Thompson, 29, professional fund raiser, Stockbridge: "I would like there to be more independent shops than chain stores."
The full article contains 543 words and appears in Edinburgh Evening News newspaper.
